绿色信贷发展对商业银行财务绩效影响的实证研究

基于2007—2020年商业银行财务数据，构建多期DID模型，从规模效应、风险结构效应、成本收入效应分析绿色信贷对商业银行财务绩效的影响路径，并检验绿色信贷对银行财务绩效的异质性影响。实证结果表明：绿色信贷对商业银行财务绩效存在直接负向影响与间接正向影响，且综合影响具有异质性，对国有银行以及城市商业银行具有负的政策效应，对股份制商业银行不具备显著的政策效应；绿色信贷业务对银行企业价值的影响机制中规模效应、成本收入效应为主要影响路径。

An Empirical Study on the Impact of Green Credit Development on the Enterprise Value of Commercial Banks

Based on the financial data of commercial banks from 2007 to 2020, a multi-period DID model is constructed to analyze the impact path of green credit on the financial performance of commercial banks in terms of scale effect, risk structure effect, and cost-income effect, and to test the heterogeneous impact of green credit on the financial performance of banks. The empirical results show that: there is a direct negative effect and an indirect positive effect of green credit on the financial performance of commercial banks, and the combined effect is heterogeneous, with negative policy effects for state-owned banks and urban commercial banks, and no significant policy effects for joint-stock banks; the scale effect and cost-income effect are the main influence paths in the influence mechanism of green credit business on the enterprise value of banks.